Election 2012

Election 2012

Obama Wins Reelection - But Congress Still Split

With Congress still split along partisan lines following the election, it's uncertain whether the President will be able to marshal the bipartisan spirit needed to address two of the most pressing economic issues.
Tax

Should Preachers Be Practicing Politics?

On "Pulpit Freedom Sunday," more than 1,000 pastors participated in a collaborated effort to defy the IRS by endorsing political candidates. Their message was clear: You can't tell us what we can and can't talk about to our congregations.
Election 2012

The Secret is Out: Romney Tax Returns Released

The long awaited secret is out. The Romney campaign posted his full 2011 tax return September 21, along with a summary of taxes paid all the way back to 1990.
Education & Careers

Focus of AICPA’s 2012 Accounting Competition

This year's AICPA accounting competition challenges students to solve some of the most pressing financial issues facing the United States while considering what it takes to get politicians elected.
Election 2012

Romney Tax Return Theft Likely a Hoax

Just when you thought American politics couldn't get any more bizarre or sink any lower, it has. If claims can be believed, information thieves penetrated the walls of PricewaterhouseCoopers and took "hostages."
Election 2012

Obama and Romney Slug It Out Over Taxes

Democratic incumbent President Barack Obama and Republican challenger Mitt Romney have sparred over taxes. Now that the gloves are finally off, both nominees have come out swinging full force.
Election 2012

Romney Touts Himself Small Business 'Champ'

Republican nominee Mitt Romney delivered the acceptance speech expected of him at last week's Republican National Convention, repeatedly hammering President Obama on what many consider to be his weakest flank: jobs and economic growth.
Election 2012

Paul Ryan's Fiscal Policies under the Microscope

The Republican candidate for vice president, Paul Ryan, is a staunch conservative known for controversial fiscal policies. Would his proposals to reform the federal income tax and Medicare systems "destroy" or "save" the country, as some have claimed?
Tax

Estate Tax Relief Takes a Back Seat

With all the talk about income tax increases and cuts, you'd think there would be more discussion about a pending estate tax bombshell. But the prospect of higher estate taxes in 2013 doesn't appear to be a concern on the Hill.
Election 2012

Obama and Biden Release Tax Returns – Are They Fair?

The two top executives in the US government – President Obama and Vice President Biden – released their 2011 federal tax returns this past week. The Obama's return resulted in an effective tax rate slightly higher than 20 percent. For the Biden, the effective tax rate was more than 23 percent.
Election 2012

Romney Takes Super Tuesday, but Close Race Still on Rivals Say

On the morning after Super Tuesday voting, Mitt Romney was able to declare himself the winner, tallying up a total of 419 total Republican delegate votes, nearly double the delegate count garnered by his closest rival Rick Santorum, who currently stands at 178 total votes, according to Associated Press statistics.
Election 2012

Tax Talk to Resurface on Super Tuesday. Where Does Santorum Stand?

While Romney managed to maintain his status as the GOP front-runner, there's little doubt the momentum Santorum built in Michigan in February means he still poses a threat to Romney's once all-but-certain ascendency to the Republican nomination going into the ten-state Super Tuesday primary Tuesday, March 6.
Election 2012

Obama's Corporate Tax Plan Begins to Take Shape

Last week, President Obama unveiled the framework for an extensive corporate tax package. It didn't take long for his rivals to poke holes in the plan. In fact, the Republican front-runner for the presidency, Mitt Romney, chose the very same day on the campaign trail to present his own economic program.
Community News

Romney Pays Low Tax, But It's Perfectly Legal

Romney has been catching a lot of flak for the relatively small amount of tax he pays, despite the millions in assets that he owns. But the GOP front-runner for president is only doing what the filthy rich usually do: paying the least amount of income tax they are legally obligated to pay.
A&A

Talk of Taxes and Economic Growth Rose above Fray at Florida Debate

On January 23, the remaining contenders for the GOP presidential nomination hit the ground running in Tampa. Romney and Gingrich dominated the debate and traded barbs over character and electability. But, despite the fireworks, core issues – tax reform, deregulation, and economic growth – were discussed.
Tax

GOP Tax Debate Could Coalesce around Ron Paul's Ascension in Primaries

Despite his decisive second-place finish in the New Hampshire primary and his strong third-place showing in the Iowa caucus, there are still some political pundits who question whether Ron Paul, who was initially a middle-of-the pack candidate, is a viable contender for the GOP presidential nomination.
Election 2012

Cain Vows to Keep 9-9-9 Part of GOP Presidential Race

Earlier this month, Herman Cain announced that, despite the fact he is no longer on the GOP ballot, he will continue to take his 9-9-9 tax reform and economic recovery plan to the public through his newly formed Solutions Revolution bus tour and media blitz.
Election 2012

Some CPA Analysts Question if Romney's Tax Reform Approach Will Fly

Some Republican candidates' tax reform platforms have spurred discussion and controversy, but Mitt Romney's "Believe in America" plan for jobs and economic growth has drawn relatively little discussion. One CPA analyst argues that Romney is "staying status quo on the personal side of the tax equation."
Election 2012

Gingrich Says He'll Reduce Taxes and Reform Government Regulations

When asked by Diane Sawyer during the December 10 GOP debate about his "distinguishing idea" to create jobs and bring jobs back from overseas, Gingrich stuck close to his "pro-growth Jobs and Prosperity Plan," which advocates lowering taxes and reforming government regulations to grow the American economy.
Election 2012

Rick Perry's Tax Plan Opens 'Intriguing' Debate

Texas Gov. and Republican presidential candidate Rick Perry entered the tax reform fray recently when he made good on his debate promise to "bump plans" with fellow candidate Herman Cain's 9-9-9 tax proposal by introducing his own "Cut, Balance and Grow" economic stimulus plan.

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